Automated Teller Machines (ATMs) across banks are all set to increase service charges per transaction from Saturday, following an order from the Reserve Bank of India (RBI) and customers will have to Rs 1 more beyond the permissible free transactions for cash as well as non-cash purposes.

As per the RBI notification dated June 10, 2021, from January 1, 2022, banks have been permitted to charge Rs 21, instead of Rs 20 with applicable taxes, if any, shall be additionally payable. However, the customers are eligible for five free transactions (inclusive of financial and non-financial transactions) every month from their own bank ATMs.